Bitcoin Cash How to Trade

The price dropped below SMA50 and we have a continuation of downward movement. MACD confirms that the market can move lower. We have to wait for good levels for buying. The 1st level, where the market can be stopped and reversed, it's 400.00 support level. If the market bounces from it, this new swing low will be higher that the previous one. It will be good confirmation of possible upward movement. We'll be able open long trades based on a confirmed reversal signal. If the market breaks 400.00 level, we should be ready to see downward movement to the 2nd support level at 300.00. Bouncing from this zone we'll give us good buying opportunity. If the market forms a double bottom, it will be a strong confirmation of trend reversal. Buying in such conditions will be logical. Also there is one more entry level which is higher than SMA100 and the downtrend line. Now it's a strong resistance zone. If the market can break this zone, we'll have to buy based on a breakout signal. It will be confirmation of a new uptrend.